Intergenerational pay gap grows 50%

The pay gap between the over-50s and under-21s has grown by 50% in the past 15 years, according to a report by the Intergenerational Foundation.

Its Squeezed youth: the intergenerational pay gap and the cost of living crisis report, which analysed government data, found that wages for those aged between 18 and 21 have fallen by 19% in real terms since 1997, while the over-50s have seen a 25% increase in their earnings.

It also found that wages for employees aged between 22 and 29 have remained virtually stagnant over the same period, rising only 2%, well behind the rate of inflation.

Angus Hanton, co-founder of the Intergenerational Foundation, said: “This double squeeze on wages and living costs provides yet further evidence that younger generations are lagging behind older generations, both in terms of relative pay and the cost of living.

“The young are the new poor and policy-makers must do more to protect them.”

the US media quotes Mr Obama as saying senior executives and above are being paid over 200 times as much as those in the middle and lower levels of earning. 2-3 decades ago, he say it was 20 or 30 times as much.

It isn’t the young that are being disadvantaged but those that are not in the positions that influences who should receive fair pay awards.

Some groups promoting the young appear to be in support of pensioners compensating the young by their arguments instead of them receiving fair incomes so that they can support themselves. We all see in the media how much the young are forced to accept in benefits from the pension and health budget because of it